Hedge fund Appaloosa asks Allergan to split chairman-CEO position

Hedge fund Appaloosa asks Allergan to split chairman-CEO position

(Reuters) - Billionaire investor David Tepper’s hedge fund Appaloosa Management and Senator Investment Group on Tuesday asked Allergan Plc’s (AGN.N) board to split the office of the chief executive officer and chairman.

FILE PHOTO -- David Tepper, founder of Apploosa Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid/File Photo

In May, Appaloosa and two of Tepper’s funds received Federal Trade Commission clearance for the billionaire to become an activist investor in Allergan.

Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur

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July 24, 2018